Mindtree stock hits new high after logging double-digit growth in Q2 PAT and revenue

The Board of Directors has declared an interim dividend of 100% (Rs10 per equity share of par value Rs10 each).

Oct 14, 2021 01:10 IST India Infoline News Service

Mindtree stock hit a new all-time high after the company posted a whopping 57.2% yoy rise in consolidated net profit to Rs398.9cr for the quarter ending September 2021 (Q2FY22). On a sequential basis, PAT jumped by 16.2%.

The company's revenue stood at Rs2,586.2cr in the quarter under review, rising by 34.3% yoy and 12.9% qoq.

“We are pleased to report yet another outstanding quarter of all-round performance,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

Chatterjee added, "Our revenues in the second quarter were $350.1 million, up 12.7% sequentially and 34.1% year-over-year, which was our highest YoY growth for a quarter in a decade. We maintained EBITDA margin at 20.5% while making aggressive investments in further expanding our domain, digital and leadership capabilities, geographic footprint, and hyperscaler partnerships. The broad-based momentum and growth outlook across all verticals, service lines and geographies attest to our operational rigor and sharp focus on being a trusted business transformation partner to our clients."

"Thanks to the disciplined execution of our strategy, and the dedication of Mindtree Minds, we are well-positioned to capitalize on the strong demand environment and deliver profitable, industry-leading growth in FY22," Chatterjee said.

The Board of Directors at its meeting held on Wednesday has declared an interim dividend of 100% (Rs10 per equity share of par value Rs10 each).

On Sensex, Mindtree clocked a new all-time high of Rs4937.15 per piece up 13.2% so far today. At around 1.20 pm, Mindtree is trading at Rs4738.35 per piece up Rs375.10 or 8.60% on the same index.

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